Cyprus Citizenship by Investment Program
The Cypriot Citizenship by Investment program began taking applications in 2002 and was subsequently changed to make the procedure simpler. Because of the simple and rapid process, it has become one of the most appealing citizenship investment programs for ex-pats investors. To be qualified to apply, you must be over the age of 18, in fine health, and have no criminal record. You must also have a valid travel visa. Citizenship through investment is permanent and may be passed down to the next generation. In addition, you must make a joint investment in a real estate project as well as a non-refundable contribution to government programs.
Investment:
The property, whether domestic or commercial, can be rented to generate guaranteed income. The minimum investment of €2.0 million can be completed by combining any property assets. The investors are allowed either directly or through a firm in which the applicant has a shareholding. The Cyprus Citizenship by Investment program is the quickest and most secure path to obtaining an Eu passport through property investment. It is rapid and secured, plus a donation of €75,000 to the Government's Research and Development Department, except Cyprus investment citizenship program, no other European golden visa scheme offers such certain outcomes, granting an EU second passport within just two or three months.
Procedure:
The candidate must have undertaken the investment before applying for the visa, and money must be available in Cyprus at the time of application. Such money can be disbursed in line with any payment schedule agreed upon for the property, which is especially important in the case of off-plan projects. However, after committing to the investment, an application can be made within a few days. The procedure of obtaining a Cyprus passport will thereafter take 6 months. If your citizenship application is denied, you may receive a complete refund for certain real estate investments.
Procedure Highlights:
Cyprus citizenship fees
The Cyprus citizenship through Investment Program costs 2 million euros plus a €200,000 donation,
Eligibility
Age 18+ (The investor's parents may apply for citizenship if they possess a Cyprus residential real estate worth at least €500,000. (plus VAT if any).
Health Certificate with Good health
No criminal record
Successfully pass due diligence checks with high grades,
Obtain Government approval
Confirmation of your investment sources
Requirements oF the Cyprus Citizenship Program
In 2020, the following requirements will apply to investors seeking nationality in Cyprus:
The applicant must spend at least €500.000 on a house or apartment in Cyprus plus (VAT) Property Value Added Tax on property. The investor is not permitted to sell the primary house. However, renting it is permissible.
Real estate, land development, and infrastructure investments:
Residential real estate
1.5 million euros (plus VAT if any) (For €2M, it can even be a single main house.)
Commercial properties
€2 million (plus VAT if any)
Documents Required
A Resume for the client, his or her spouse, and any adult children.
Legal and verified birth certificates for the applicant, spouse, and children
Criminal Record Certificate from the investor's country of origin and country of domicile.
Marriage Certificate (accompanied by an official and verified translation*)
Two passport-sized photos for each family member.
Adult Children's Certificate of Attendance from an Academic Institution (original).
An internationally recognized database generates a Due Diligence Report.
Documentation marked with a (*) must need be translated into English and display the «APOSTILLE» stamps. OR be approved by the Ministry of Foreign Affairs of the nation issuing them, as well as the Cyprus Ambassador of that country and the Cyprus Foreign ministry.
Frequently Asked Questions:
Q1: Is it necessary for an investor to live in Cyprus after obtaining citizenship in order to keep it?
Ans: No, you do not have to live in Cyprus.
Q2: Assume I purchased a home villa as an investment. Should I invest in a second private home worth at least €500,000?
Ans: It is not necessary to purchase or make any additional investment in real estate if you have already purchased one residential home worth €2 million. You are not required to acquire additional property if you purchased numerous residential properties for the same price. The investment can be sold after five years, but the investor must always have a property worth at least €500,000.
Q3: When will my Citizenship Expire?
Ans: No, when you earn Cyprus citizenship under the investment program, you and your family gain full citizenship of Cyprus nationality for life, which may be passed down through descent to future generations.
Q4: Is it possible to sell or rent out the residential property once citizenship has been granted?
Ans: Because the Investor is not compelled to live in Cyprus, they may rent out their privately-owned property. It is also feasible to replace the residential property with another of comparable value but not allowed to sell permanently.
Q5: Can I add my family to my application for Cyprus Citizenship by Investment?
Ans: Yes, you can include qualifying members of your family in your candidacy or add them after you have gained citizenship for a charge. A qualifying family member can be a kid under the age of 18, a child between the ages of 18 and 28 who are presently registered in an academic institution, a spouse, parents, or even in-laws who are monetarily dependent on the primary applicant.
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